MGNI:
Despite the fact that I like the fundamentals of this company long term, the below analyses is purely based on technicals.
As you can see the chart does not look that great, with all moving averages pointing downward. And the market has not been nice recently with growth stocks.
However, I'm looking to buy a few stocks as a long term investment.
I usually try to simplify my analyses as much as possible, so I avoid the unnecessary noise.
By looking at the weekly chart I see an important zone that has played many times in the past. This zone is between 11.75 and 13.
This is where I'll be looking for an entry or multiple entries.
I also see a small divergence between RSI and the price, supporting the fact that we could see a nice bounce (for shorter term traders).
That's it! Let me know if you have comments.
Trade safe!
Despite the fact that I like the fundamentals of this company long term, the below analyses is purely based on technicals.
As you can see the chart does not look that great, with all moving averages pointing downward. And the market has not been nice recently with growth stocks.
However, I'm looking to buy a few stocks as a long term investment.
I usually try to simplify my analyses as much as possible, so I avoid the unnecessary noise.
By looking at the weekly chart I see an important zone that has played many times in the past. This zone is between 11.75 and 13.
This is where I'll be looking for an entry or multiple entries.
I also see a small divergence between RSI and the price, supporting the fact that we could see a nice bounce (for shorter term traders).
That's it! Let me know if you have comments.
Trade safe!
Comment:
are we gonna get a big bounce before it reaches my buy level?
Comment:
Entering the buy zone. Will wait for Monday to see how the market behaves.